Changes in Settlement Deadlines on 31 December 2019

UniCredit Bulbank AD
The Bulgarian National Bank (BNB) and Central Depository AD (CDAD) have announced changes in market deadlines for settlement on 31 December 2019. UniCredit Bulbank also changes some of its deadlines.
Fri, 27/12/2019

BNB has announced a shorter deadline on 31 December 2019 for settlement of transactions in government securities. BNB will accept settlement instructions until 14:45 local time instead of 16:45 local time. UniCredit Bulbank changes its settlement deadline for government securities on 31 December 2019 to S 13:45 local time instead of S 16:00 local time.

CDAD has also announced certain changes in its daily system schedule on 31 December 2019. In the last business day of 2019 the three against-payment settlement batches at CDAD will start at 10:30 (no change), 13:00 (instead of 12:30) and 15:10 (no change) local time, respectively, but the funding deadline for the third batch will be shortened to 14:00 local time instead of 14:30 local time. There will be no changes in UniCredit Bulbank’s cut-off times on 31 December 2019 for settlement of CDAD eligible securities.

Local time is CET+1 h.

Impact on investors: Investors should be aware of the shorter settlement deadlines for government securities with place of settlement BNB on 31 December 2019.